Glanmire is a case in point: once a small village, it is now home to many times its original population. It is unusual to see farmland for sale so close to these villages but, in a sign of the times, farmers are back in the market for the kind of land that was once the preserve of developers.

Auctioneer Dan Fleming is selling 82ac of prime farmland adjoining upper Glanmire village on the outskirts of Cork. He said that 14ac of the original farm, and the farmyard, were sold for development several years ago. The current piece was withdrawn from auction last spring and was sold subsequently, but it is now back on the market.

While acknowledging that housing development is not an option for the foreseeable future, Mr Fleming pointed out that the agricultural value of the ground cannot be disputed.

"This is the best of agricultural land; it is well drained, south facing and suitable for any farming type," he said. "It is on offer in two lots, 20ac and 62ac. There is a spring in one portion and a stream in the other."

He expects much farmer interest. "Farmers are undoubtedly back in the market buying land in affordable packages.

"People are beginning to rediscover value in open spaces. Land is the new investment vehicle."

The property, for sale by private treaty, is being guided at €12,500/ac, which Mr Fleming regards as a good price, given the quality of the land and the location. "We want to sell this farm and we will talk to anyone who wants to offer a fair price," he said.